CHICAGO– A&G Realty Partners will auction six vacant Shopko boxes and 61 vacant outparcel sites as part of the mass merchant’s Chapter 11 bankruptcy.
The July 24 auction will be held at 9 a.m. CST at the Chicago law office of Kirkland and Ellis, 300 North LaSalle. The bid deadline is July 22 at 4 p.m. CST.
“This auction represents an excellent opportunity for a variety of real estate stakeholders—everyone from expanding grocery chains, to large-format fitness centers, to investors seeking to subdivide or otherwise repurpose well-located big boxes,” said Michael Jerbich, a Principal at Melville, N.Y.-based A&G, a real estate brokerage and advisory firm. “With stores ranging in size from 13,000 to 66,000 square feet, and outparcels of anywhere from a third of an acre to more than five acres, the potential user base here is extensive.”
The six owned stores are located in Montana, North Dakota, Kansas, Iowa and Michigan.
The 61 owned outparcel sites are located in Wisconsin, Minnesota, South Dakota, Nebraska, Iowa, Michigan, Illinois, Washington, Indiana, Kansas, Ohio, Tennessee, Kentucky, Wyoming, Montana and North Dakota.
A $3 billion retailer founded in 1962, the Ashwaubenon, Wisc.-based Shopko operated 360 stores in 26 states when it filed for Chapter 11 bankruptcy protection this past January. The company operates under the Shopko, Shopko Express Rx, Shopko Pharmacy, Shopko Optical and Shopko Hometown nameplates.
A hearing to consider approval of the bids, which require a 10 percent cash deposit of the purchase price, will be held on or after July 29. All due diligence must be completed prior to placing a bid.
For information about specific assets, visit AGRealtyPartners.com. To submit bids and/or request additional information, contact Michael Jerbich ([email protected]) or Chris Draper ([email protected]).
